Survey on Consumer Attitudes to Value Gives Retailers Wakeup Call

About The Authors

22nd June 2012 11:21 - Retail

According to a new report from an independent agency specialising in shopper research, cheap goods are not the “be all” for UK consumers.

The Shoppercentric survey called “WindowOn the Value Equation” looked at what ‘value’ actually means to shoppers these days as well as the latest promotional trends.

Only one in four respondents define ‘value’ as being about lowest price, while ‘Buy One, Get One Free’ (BOGOF) deals remain the most popular promotion (76% of surveyants).

Other key findings in terms of what Britons constitutes as good value to UK shoppers were that ‘Getting the most for the money I planned to spend’ got the second highest score at 28%, while ‘Feeling that what I’m buying is worth the money I’m spending’ was ranked third most important.

In terms of how retailers compare, the survey showed that despite a problematic start to 2012, Tesco remains the retailer “most likely” to be associated with good overall value by UK shoppers at 42%. However while its highest score on individual factors was for ‘good promotions’, M&S scored higher for this area.

Managing Director at Shoppercentric, Danielle Pinnington, commented: “Retailers and their suppliers need to be more aware of the wider definition of ‘Value’ and cater for all shopper needs. Relying purely on price is not only a lazy strategy but, if used long term, a damaging one too.”

Sign up for free insights from your sector…

Antispam code: 5025

Support Us..

We hope that you have found this article useful. This section is freely available for all to use. Please help support it by liking us or following us on our social media platforms:

Share this article..

For updated Retail insights please follow us on @DJS_Retail or use our RSS feed

Other Retail Research Findings

Other Latest Market Research Insights

© DJS Research 2019